For the first time in more than five years, more Americans say they are better off today than they were a year ago - a development that could boost President Barack Obama, according to a Gallup poll released Thursday.

Thirty eight percent of Americans feel better off financially today than they did a year ago, in contrast to 34 percent who don’t.

According to Gallup, this is the first time in more than five years that Americans say they are doing better financially today than they were the preceding year. Another 26 percent of those surveyed say their finances haven’t changed.

“Americans’ evaluations of their current financial situations are hardly positive, with barely a third saying they are better off than a year ago and nearly as many saying they are worse off,” the analysis noted. “Although an additional 26% say their finances are the same, it is not clear in this slow economy whether that’s a good or a bad thing.”

But, Gallup added, “In any case, positive perceptions on this measure have increased since 2009, which could benefit Obama.”

The poll was conducted Oct. 22-23 and is a survey of 1,065 randomly selected adults. It has a margin of error of plus-or-minus four percentage points.